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According to 2024 figures from Statistics Canada, the average (mean) salary for full-time employees in Canada is $75,753 per year, or $6,313 per month, before taxes and contributions. To provide a clearer look at what residents in the largest Canadian provinces make, we've compiled each province's average gross salary, next to the after-tax figures calculated using our take-home pay calculator.
- United States
Most employers deduct approximate payroll and income taxes...
- France
Income Tax (Impôt Sur Le Revenu) on personal income is...
- UK
Tax Year: 2024 – 2025 If you live in the UK and earn a gross...
- Ireland
The average salary in Ireland is €50,085, according to the...
- Luxembourg
The average gross salary in Luxembourg is €5,411 per month,...
- Belgium
Income Tax (Impôt sur le Revenu, IPP) is a progressive tax,...
- Spain
Income Tax (Impuesto sobre la Renta) is a progressive tax,...
- Germany
The average salary for full-time workers in Germany is...
- United States
This calculator also lets you work in reverse. Instead of converting pre-tax income to after-tax dollars, you can find the pre-tax employment income required to generate a fixed amount of after-tax income. Let's say that I have a target of earning $60,000 of after-tax income per year (or $5,000 of after-tax income per month).
Income tax calculators updated for 2022 tax year March 11, 2022. All Canadian income tax calculators are updated for 2022 taxation year. Most provinces and all territories indexed their tax brackets and basic personal amount by federal or provincial inflation rate. Netfile software 2022 (for tax year 2021) January 25, 2022.
* The 2024 federal budget proposes to increase the capital gains inclusion rate for individuals from one-half to two-thirds on the portion of capital gains realized in the year exceeding $250,000, for capital gains realized on or after June 25, 2024. The annual $250,000 threshold will not be prorated for 2024 and will apply only in respect of net capital gains realized on or after June 25, 2024.
- Overview
- On this page
- 2024 federal income tax rates
- 2024 provincial and territorial income tax rates
- Previous year income tax rates
The Government of Canada sets the federal income tax rates for individuals. Each province and territory determines their own income tax rates.
Provincial or territorial income tax rates apply in addition to federal income tax rates.
•2024 federal income tax rates
•2024 provincial and territorial income tax rates
These rates apply to your taxable income. Your taxable income is your income after various deductions, credits, and exemptions have been applied.
There are also various tax credits, deductions and benefits available to you to reduce your total tax payable.
Provincial and territorial tax rates vary across Canada; however, your provincial or territorial income tax (except Quebec) is calculated in the same way as your federal income tax.
•Newfoundland and Labrador
•Prince Edward Island
•Nova Scotia
•New Brunswick
•Quebec
Select the tax year
•+ 2023
Select "Federal" or your province or territory
•Federal
•Newfoundland and Labrador
•Prince Edward Island
RRSP contribution This amount is either 18% of your earned income in the previous year, or the 2022 RRSP limit of $29,210, whichever is lower. Capital gains & losses This is the total profit or loss gained from the sale of stocks, bonds, precious metals, and property (currently, only 50% of the value of any capital gains are taxable in Canada ...
People also ask
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How are provincial and territorial tax rates calculated in Canada?
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Do I have to file income tax in Canada?
Apr 28, 2024 · For example, in the 2024 tax year, if you earn $80,000, you will be in the $55,867 to $111,733 federal tax bracket with a tax rate of 20.5%. This means that your income above $55,867 ($80,000 - $55,867) is taxed at a rate of 20.5%. Any additional income up to $111,733 will also be taxed at a rate of 20.5%.
